Along with the bull market of Bitcoin, various Meme coins have skyrocketed, ushering in the bull market of local dogs. In the past few months, we have witnessed the 100-fold coin BOME being listed on 5 exchanges in one day, and also experienced the ups and downs of Slerf. Now the narrative of Meme has a new story. The concept of the US election Meme is hot in the currency circle. With the arrival of the US election season in November this year, MemeCoin represented by Trump began to exert its strength. Just today, Trump's concept coin MAGA rose by more than 20% in 24 hours, and the coin price rose to US$15, a record high. In this article, TrendX will sort out the presidential concept coins for you.
Trump and MAGA
Since the Bitcoin halving, the crypto market has continued to be sluggish and the market has been in a state of consolidation. BTC has failed to hit the $70,000 mark several times, but instead caused market fluctuations.
Compared with the lukewarm performance of Bitcoin, the Meme coin sector has emerged in recent days with a significant rise. Among them, the Meme sector related to the US election and the Meme coins related to the "King of US Retail Investors" have particularly prominent growth. In particular, Trump concept coin TRUMP has continued to rise recently.
According to CoinGecko data, the MAGA coin themed after former US President Trump has skyrocketed by nearly 800% in the past three months from its earlier high. It may soon become a member of the meme coin hall of fame, alongside DOGE and SHIB.
However, it is interesting that Biden, Trump’s biggest rival in this US presidential election, has also released Meme coins before, but compared with the outstanding performance of MAGA tokens, the largest Biden concept coin FDV is only about $198 million. This pales in comparison to MAGA’s FDV of about $600 million.
The popularity of Trump concept is not only reflected in MAGA tokens, but other Trump-related MemeCoins have also seen strong growth. According to BlockBeats, on May 27, according to market information, Trump concept tokens continued to rise, among which MAGA (TRUMP) is now reported at $12.65, with a 24-hour increase of 31.68%, and the coin price has reached a record high; MAGA Hat is now reported at $0.0005287, with a 24-hour increase of 160.6%, and the coin price has also reached a record high.
At present, MAGA is one of the most powerful US election concept meme coins.
The correct way to participate in Presidential Concept Coin
The popularity of MAGA tokens is related to Trump’s relatively positive image in the minds of people in the United States and around the world, and is also related to Trump’s changing view on cryptocurrencies.
In 2019, Trump lashed out at Bitcoin. He publicly stated on social media: "I am not a fan of Bitcoin and other cryptocurrencies. Cryptocurrencies are not currencies, and their values fluctuate greatly. There are no physical objects. They come out of thin air and are unregulated. These factors allow cryptocurrencies to be used for illegal activities, including drug trafficking and other illegal activities." In 2021, Trump reiterated his personal opinion, saying that "Bitcoin looks like a scam. I don't like it because it is another currency that competes with the US dollar."
As Web3 and the concept of cryptocurrency thrive, the passage of the BTC ETF marks the acceptance of the crypto industry by the traditional financial market. Trump changed his previous opposition and at the NFT event held in Florida, the former US President Trump claimed to support cryptocurrency and promised to accept cryptocurrency donations. At the same time, Trump also promoted his NFT at the event and called himself an advocate of cryptocurrency. In addition, recently, Trump expressed his support for the development of cryptocurrency in a video at a conference and called on supporters to vote for him. Trump's comments not only caused a shock in the cryptocurrency market, but also directly drove the price of MAGA to soar.
In addition, according to data from NFT Floor, the Trump Digital Trading Cards minted on Polygon also rose by more than 100% at one point.
Not only that, the different development paths of different presidential concept coins also reflect the voting choices of users, especially Web3 users.
2024 is the year of the US presidential election, and as the US presidential election enters the fierce selection stage, the waves stirred up online will become bigger and bigger. When it comes to major events involving Trump, "the value of the token will be directly reflected," making it a means of prediction market. For many investors, this has become a de facto election betting market, that is, if you are optimistic about Trump's election, you can bet. There are prediction market contracts that allow traders to monetize their belief in Trump's success.
On prediction market PolyMarket, one contract on Trump’s chances of winning the presidential election had more than $6.46 million in liquidity, with some bets exceeding $500,000.
In the Web3 market, it is very simple. If you are optimistic about Biden, buy tokens with related concepts; if you are optimistic about Trump, hold MAGA. It is precisely because Trump's banner is more attractive to retail investors and ordinary people that the performance of MAGA and BODEN tokens in the market is completely different. This is another manifestation of the power of the community.
In addition to MAGA and BODEN, there are several other options for community-driven tokens:
$PEOPLE: Since May, the price of $PEOPLE has been rising, mainly due to the concept of US elections. This token represents the concept of decentralized autonomy. Through crowdfunding, it bought the last publicly auctioned copy of the US Constitution at Sotheby's auction, achieving the goal of "common ownership", a symbol of human rights and decentralized spirit.
The core of $PEOPLE has a distinct left-wing color, which can attract investors with the same ideas. It is precisely because of this concept that $PEOPLE has gained an advantage in the market.
American Coin: American Coin is a token with meme attributes. Its promotional copy is very similar to the American Declaration of Independence, giving $USA more cultural and political significance.
PEPE: The spread of pepe meme patterns can easily become a tool to bring young voters closer.
In addition to the election voting day on November 5, there are several key time points worth paying attention to:
June 27: First debate
Presidential debates are very important in US elections and can greatly change the direction and process of elections. Debates are not only a platform for presenting policy views, but also a battlefield for candidates to belittle and smear each other. Historically, debates have often become turning points in elections. This year, Biden and Trump have agreed to hold general election debates in June and September, and the two sides have already attacked each other on social media over the prospect of a showdown, foreshadowing a showdown full of gunpowder.
September 10: Second debate
After accepting the invitation to the debate on June 27, Trump and Biden also announced that they agreed to hold the second general election debate on September 10. In the past, presidential elections usually held three debates, but this time there were only two, so the importance of the second debate was even more prominent. The first debate will be hosted by CNN, and the second general election debate will be hosted by ABC. This September debate may be the last official showdown between the two this year, which may be more intense and is expected to attract national attention again. The process of the second debate will also have a profound impact on the results of the election, and it is a key node that investors who speculate on Meme coins cannot ignore.
January 20, 2025: Swearing-in
The new president will be sworn in on January 20, 2025. This day marks the official start of the new president's administration and the completion of a peaceful transition of power. The swearing-in ceremony is usually held on the west side of the U.S. Capitol, and the new president is sworn in under the supervision of the Chief Justice of the Supreme Court.
Conclusion
Data shows that the crypto data tracking website CoinMarketCap registered 138 ERC-20 Meme coins in April this year, a 666% increase from 18 in the same period last year. The development of Meme coins, to a certain extent, demonstrates the awakening of consciousness of ordinary individuals in the Web3 field and even in the traditional world. In the Web3 field, this is manifested as anti-institutional and anti-exchange, and the belief that community-led projects are real projects.
But please note that MemeCoin is extremely risky and volatile, especially when the narrative is about to land, it is easy to have a Price in stampede. The 60th U.S. presidential election will be held on November 5, 2024, when the coin will reach its climax and then disappear. Knowing when to buy is wisdom, and knowing when to sell is great wisdom.
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